INVESTING

Forex Brokers

Monitored brokers who operate on the Forex market so that you and other traders can access reliable information about each broker company

PROS:
  • Dominant market share (over 50% of AU retail investors) with proven reliability.
  • User-friendly app and web platforms for beginners to pros.
  • CHESS sponsorship ensures direct share ownership, no custody risks.
  • Wide asset range including ASX, global equities, ETFs, and derivatives.
  • No account minimums or inactivity fees.
CONS:
  • Brokerage fees can be expensive for frequent small trades.
  • Customer support often slow with long hold times.
  • Limited transparency on full asset lists pre-account opening
NAGA is a multi-asset trading platform launched in 2015 that combines CFD trading with social investing features. Operated by the publicly listed NAGA Group AG, the platform offers access to over 4,000 instruments and allows users to copy experienced traders through its AutoCopy system.
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Trust & Regulatory Status
4.8
Tradable Instruments
6.4
Fees
6.5
Account Types
6.5
Platform and Tools
4.2
Deposit and Withdrawal
5.8
Customer Support
6.5
Research and Education
4.1
Mobile Trading
6.3
Security
3.7
PROS:
  • Access to 4,000+ instruments across forex, stocks, indices, commodities, ETFs, and cryptocurrencies
  • Unique social trading and AutoCopy functionality for copying experienced traders
  • Operated by The NAGA Group AG, a company listed on the Frankfurt Stock Exchange
  • Integrated TradingView charts and Trading Central analysis for advanced market insights
  • Available on web platform and mobile app for trading on the go
  • Negative balance protection for retail clients
  • Client funds kept in segregated accounts with regulated entities
  • Strong global presence with 2+ million registered users
CONS:
  • Most products are CFDs, which carry high leverage and risk of losses
  • Copy trading results depend on other traders’ performance, which is not guaranteed
  • Services are not available in several restricted jurisdictions
  • Fee structure and spreads vary by account tier, which may be confusing for beginners
  • Social trading features may encourage frequent or impulsive trading
  • Some advanced features and tools may feel complex for first-time traders
FXCC is a global forex and CFD broker founded in 2010 offering competitive ECN trading with low spreads from 0.0 pips and zero commissions. Regulated by CySEC and other authorities, it supports MetaTrader 4 and MetaTrader 5 platforms with access to forex, metals, indices, energies, and cryptocurrency CFDs. FXCC is designed for traders seeking cost-efficient execution and flexible account access.
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Trust & Regulatory Status
6.9
Tradable Instruments
7.1
Fees
6.9
Account Types
5.8
Platform and Tools
6.1
Deposit and Withdrawal
7
Customer Support
7.1
Research and Education
6.7
Mobile Trading
7
Security
6.7
PROS:
  • FXCC offers tight spreads from around 0 pips with no trading commissions, making overall costs low for traders.
  • The broker does not require a minimum deposit, lowering the barrier to entry for new and small traders.
  • FXCC is regulated by CySEC (MiFID) and MISA, with client funds held in Tier 1 banks for added security.
  • Traders can access 70+ forex pairs and other CFDs, covering major markets and diverse instruments.
  • MetaTrader platforms supported (MT4/MT5) provide robust charting and automated trading options.
  • Free VPS hosting is available for traders who meet balance or volume conditions.
CONS:
  • FXCC’s platform choice is limited to MetaTrader, with no proprietary platform alternatives.
  • The broker offers limited educational and research tools compared with larger competitors.
  • Some independent reviews note inactivity fees after periods of no trading.
Axel Private Market is an online trading platform founded in 2019 that provides access to a broad range of financial markets including forex, CFDs on stocks, commodities, indices, and cryptocurrencies using popular MetaTrader platforms such as MT4 and MT5. The broker aims to offer competitive trading conditions, flexible account types, and round-the-clock customer support to global clients. Traders can start with a minimum deposit of approximately USD 100 and access leverage of up to 1:500 on select instruments, although regulatory oversight and protections vary by region, so due diligence is recommended before trading.
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Trust & Regulatory Status
4.7
Tradable Instruments
5
Fees
5.6
Account Types
4.2
Platform and Tools
4.1
Deposit and Withdrawal
5.5
Customer Support
4
Research and Education
4.3
Mobile Trading
3.9
Security
5.7
PROS:
  • Offers a wide range of tradable instruments including forex, stocks, commodities, indices, and cryptocurrencies.
  • Access to popular MetaTrader platforms (MT4/MT5) with analytical tools.
  • Competitive trading conditions with spreads from 0 pips and zero commission options.
  • Claimed 24/7 multilingual customer support.
  • Multiple account types including ECN, Standard, and Islamic options.
CONS:
  • Regulatory clarity is mixed, with some operations outside strict oversight.
  • Limited publicly accessible detail on deposit/withdrawal methods.
  • Some external reports and reviews raise transparency and trust concerns.
  • Potential higher spreads on major pairs than industry averages.
  • Third-party warnings about fake sites and AML vigilance required.
Capex is a multi-regulated online CFD broker offering traders access to forex, stocks, indices, commodities, ETFs and cryptocurrencies via both proprietary WebTrader and MetaTrader 5 platforms. With a minimum entry deposit of $100 and leverage up to 1:30 (retail) or 1:300 (professional), Capex caters to both beginners and more experienced traders. The broker emphasises fund protection through regulatory compliance, fund segregation, and negative balance protection, but user reviews are mixed regarding customer support and bonus conditions.
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Trust & Regulatory Status
4.6
Tradable Instruments
3.5
Fees
3.5
Account Types
4.1
Platform and Tools
4.3
Deposit and Withdrawal
4.3
Customer Support
4.9
Research and Education
4.4
Mobile Trading
4.3
Security
4.2
PROS:
  • Regulated by multiple authorities, supporting compliance and oversight.
  • Wide range of tradable instruments including forex, stocks, indices, commodities, and more.
  • Access to both WebTrader and MetaTrader 5 platforms for flexible trading.
  • Comprehensive educational resources help traders improve their skills.
  • Negative balance protection and segregated client funds for added security.
CONS:
  • Mixed user reviews with complaints about withdrawal delays and support responsiveness.
  • Does not accept clients from the United States and other restricted countries.
  • Leverage for retail clients is limited by regulatory caps (e.g., 1:30 on major forex).
AIMS is an online trading broker offering access to forex, CFDs on commodities, indices, and shares via MetaTrader trading platforms. The broker provides a range of account types including standard and MAM accounts with competitive minimum deposits and flexible leverage options up to 1:400, catering to both new and experienced traders. AIMS also supports multiple funding methods and swap-free account options.
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Trust & Regulatory Status
3.1
Tradable Instruments
3.7
Fees
4.1
Account Types
4.2
Platform and Tools
4.8
Deposit and Withdrawal
5
Customer Support
4.7
Research and Education
4.5
Mobile Trading
4.2
Security
4.2
PROS:
  • Supports MetaTrader 4 & 5, widely trusted platforms.
  • Offers a variety of asset classes including fractional shares.
  • Multiple account types and swap-free options.
  • Competitive minimum deposit thresholds and fast deposit/withdrawal processing for many regions.
  • Live support and educational content like market insights.
CONS:
  • Regulatory clarity is lacking externally — third-party investigations suggest absence of clear licensing from major authorities.
  • User reviews are mixed, with several reporting withdrawal issues and poor communication.
  • Some complaints allege high fees and withheld funds, though broker responses dispute these claims.
  • Transparency around fees, spreads, and execution conditions may not match top-tier regulated brokers.
LiteFinance is an online multi-asset trading broker established in 2005, offering access to forex, CFDs on commodities, indices, stocks, and cryptocurrencies via platforms like MetaTrader 4, MetaTrader 5, and a proprietary web platform. The broker provides a variety of account types with competitive spreads, copy trading features, and global services to traders of different skill levels. LiteFinance supports a minimum deposit starting around $50 for most accounts and flexible leverage options tailored to trading preferences.
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Trust & Regulatory Status
3.8
Tradable Instruments
4.5
Fees
4.2
Account Types
4
Platform and Tools
4
Deposit and Withdrawal
3.5
Customer Support
4.5
Research and Education
4.1
Mobile Trading
4
Security
4.1
PROS:
  • Long-standing market presence since 2005 with a global user base.
  • Wide range of tradable assets (600+).
  • Multiple reputable platforms (MT4/MT5/cTrader plus web).
  • High leverage options and variable spreads.
  • Copy-trading and social trading features.
  • Educational resources and analytics for traders.
CONS:
  • Mixed user feedback about support and technical stability.
  • Terms and conditions can vary by region due to different regulatory entities.
  • Some traders report challenges around execution behavior or platform inconsistencies.
  • Leverage up to 1:1000 may introduce higher risk for inexperienced traders.
Vestrado was an online forex/CFD broker offering trading via MetaTrader 4/5, with a low minimum deposit (from USD 10), high leverage (up to 1:2000), and a variety of account types — designed to attract beginner and experienced traders alike.
More details +
Trust & Regulatory Status
3.9
Tradable Instruments
4.4
Fees
3.5
Account Types
5.3
Platform and Tools
4.6
Deposit and Withdrawal
5
Customer Support
4.4
Research and Education
4
Mobile Trading
4.6
Security
4.3
PROS:
  • Offers a low minimum deposit requirement, making it accessible for new traders.
  • Provides a diverse range of tradable instruments including forex, commodities, indices, and CFDs.
  • Supports widely used trading platforms such as MT4 and MT5 for a familiar trading environment.
  • Features high leverage options of up to 1:2000 for traders seeking amplified market exposure.
  • Includes promotional bonuses, demo accounts, and basic educational tools that appeal to beginners.
CONS:
  • Operates with weak regulatory oversight, raising questions about compliance and transparency.
  • Lacks clear, publicly verifiable information regarding spreads, execution, and fund safeguards.
  • Has a record of user-reported withdrawal delays and concerns over fund accessibility.
  • Customer support performance has been inconsistent, with reports of slow and unhelpful responses.
  • High leverage and limited oversight make it risky for inexperienced traders.
  • Officially announced closure of operations in 2025, meaning the broker is no longer active for new or existing clients.
4XC (operated by 4xCube Ltd) is an offshore forex and CFD broker that offers trading on globally popular platforms (MetaTrader 4 and MetaTrader 5) across a variety of asset classes, including forex, commodities, indices, and cryptocurrencies. With a low entry-point and flexible account types, 4XC aims to serve traders ranging from beginners to high-volume professionals.
More details +
Trust & Regulatory Status
3.8
Tradable Instruments
3.5
Fees
4
Account Types
4.4
Platform and Tools
4.2
Deposit and Withdrawal
4.1
Customer Support
4.2
Research and Education
3.6
Mobile Trading
4.2
Security
4.4
PROS:
  • 4XC offers tight trading conditions: competitive spreads, especially on Pro and VIP accounts, and relatively low-cost trading.
  • The broker supports a broad range of asset classes — forex, metals, commodities, indices, cryptocurrencies, and CFDs — giving traders a diversified set of markets.
  • Multiple account types (Standard, Pro, VIP) with different deposit thresholds allow flexibility for beginners and experienced traders alike.
  • 4XC claims to maintain segregated client funds (i.e., keeping client money separate from company operational funds) and uses encryption/data-security measures.
  • They provide access to widely used platforms (MetaTrader 4, MetaTrader 5, and web-based trading), which are familiar to many traders.
  • 4XC offers educational resources and support for different trader levels, which can benefit beginners.
CONS:
  • The regulatory oversight comes from the regulator in the Cook Islands (Financial Supervisory Commission (Cook Islands) or FSC), under a “Money Changing & Remittance” license — not a full-fledged global broker-regulation license — which reduces the regulatory protections compared to brokers regulated by major jurisdictions.
  • Some third-party reviews raise doubts about 4XC’s legitimacy as a forex broker, suggesting that the license may not cover full FX brokerage operations.
  • Withdrawal fees may apply for non-VIP accounts, and there is a limitation to one withdrawal per day.
  • Compared to larger, better-regulated brokers, 4XC lacks a proprietary trading platform (relies solely on MT4/MT5/web).
  • Support is 24/5 (i.e., weekdays only), so weekend support may not be available — which could be a limitation for traders across different time zones.
  • The regulatory jurisdiction (tier-3 environment) may offer limited investor protection compared to major regulators.
PROS:
  • No minimum deposit for most accounts
  • Ultra-tight spreads and transparent low fees
  • Full algorithmic and social trading support via MT5
  • Multilingual customer support and quick withdrawals
  • Swap-free trading across all account types
CONS:
  • Offshore regulation provides fewer guarantees than top-tier regulators
  • $1,000 minimum deposit required for Professional accounts
  • Education resources lack detailed schedules and easy navigation
  • Service unavailable to traders in several restricted countries
  • Only MetaTrader 5 platform is supported, limiting platform choice
Opofinance is a multi-asset online trading platform offering forex, CFDs (stocks, commodities, indices, metals) and cryptocurrencies. It supports standard trading platforms (MT4, MT5, cTrader) and its own proprietary environment, along with social trading and copy-trading features. The broker targets a broad audience — from beginner to experienced traders — by offering various account types and a relatively modest entry threshold.
More details +
Trust & Regulatory Status
5.4
Tradable Instruments
5
Fees
4.2
Account Types
4.6
Platform and Tools
4
Deposit and Withdrawal
4.4
Customer Support
4.9
Research and Education
4
Mobile Trading
4.8
Security
4.2
PROS:
  • Broad market access covering forex, commodities, indices, stocks, metals, and cryptocurrencies — enabling diversified trading.
  • Flexible platform options: traders can choose between MT4/MT5 or the broker’s OpoTrade platform, which integrates with TradingView and offers social trading, copy trading, and AI-powered tools — adding convenience, especially for users familiar with charting and analysis workflows.
  • Low barrier to entry: relatively small minimum deposit requirement (around US$100) and advertised leverage up to 1:500 may appeal to beginners or traders with limited capital.
  • Social and prop trading features may help less experienced traders by allowing them to follow or mimic strategies of more experienced traders.
CONS:
  • Regulatory status is unclear: while Opofinance claims licensing under FSA (Seychelles), its past licenses from FSCA and ASIC appear expired — raising concerns about current oversight and legitimacy.
  • Offshore regulation offers limited investor protection compared to brokers licensed under Tier-1 regulators; in many jurisdictions, regulatory safeguards (compensation schemes, ombudsman support) may not apply.
  • Independent reviews and watchdog reports raise serious concerns: reports of withdrawal delays or difficulties, poor transparency regarding fees and conditions, and possible mismatches between marketing claims (e.g., “zero-spread,” “AI-automated trading,” “instant withdrawals”) and actual user experiences.
  • Lack of transparent information about company ownership and physical office address; some sources describe the legal background as opaque and unverifiable.
PROS:
  • Supports MT4 and MT5 with institutional-grade liquidity.
  • Offers 1,000+ CFDs across forex, stocks, crypto, and more.
  • Copy trading with FXT CopyPro for passive traders.
  • Mobile-friendly via the FXT App with secure encryption.
  • Competitive pricing with spreads from 0.0 pips (Pro account).
CONS:
  • Offshore regulation under VFSC, not Tier-1.
  • No Islamic, joint, or corporate accounts.
  • Key metrics like leverage and margin levels not disclosed.
  • No 2FA or advanced security layers noted.
  • Customer support details and hours not listed.
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